Freight market pushes another wave of trucking firms into bankruptcy

Another wave of trucking and logistics companies sought bankruptcy protection during May as carriers across the U.S. continued grappling with erratic freight demand, soft spot rates and elevated operating costs.

More than 20 trucking-related companies filed either Chapter 7 liquidation or Chapter 11 restructuring cases during the past 30 days, according to bankruptcy filings compiled by FreightWaves.

The filings ranged from small owner-operators with only one or two trucks to larger regional carriers and logistics providers with millions of dollars in liabilities.

Among the most notable Chapter 7 cases was the final liquidation of Georgia-based Standard Forwarding Freight, a 92-year-old regional trucking company that abruptly shut down operations late last year. The carrier operated 14 terminals across the Midwest and employed 230 drivers with a fleet of 302 trucks hauling automotive parts and industrial freight.

Several smaller carriers also filed for Chapter 7 liquidation during May, including Illinois-based Bolt Carriers Inc., Indiana-based Dukay Trucking LLC, Florida carrier YMT Line Transport Inc., and Bull Trans LLC in Pennsylvania.

Additional Chapter 7 filings included California-based Linces Trucking LLC, Michigan carrier ZA Trucking LLC, California 3PL JSL Trucking Inc., Arizona freight brokerage Tena Logistics US Inc., Olgas Transportation Company and Best Roadway Logistics Inc. in Illinois.

Oilfield hauler among largest Chapter 11 filings

One of the largest restructuring filings came from Bullet Energy Services LLC, an Oklahoma-based oilfield transportation company specializing in energy-sector logistics.

The company filed for Chapter 11 protection on May 13 in the Eastern District of Oklahoma, listing estimated assets between $1 million and $10 million and liabilities ranging from $10 million to $50 million. Court records showed the company had between 100 and 199 creditors.

Bullet Energy Services continues operating as a debtor-in-possession while restructuring. The company operates 32 trucks and employs 60 drivers, according to FMCSA records.

Other Chapter 11 filings included Ohio-based Platinum Express Inc., Illinois carrier Direct Motor Lines Inc., Tennessee-based Steven Mccanless Trucking Inc., and McAllen, Texas-based MAR Enterprises LLC.

MAR Enterprises reported operating nine power units and nine drivers while logging more than 1.4 million miles annually hauling general freight, produce and paper products.

SONAR’s Carrier Net Revocations—which measure how many truckload operators (businesses) are exiting the industry—have remained unseasonably elevated throughout the first half of the year. 

As of Wednesday, the current pace of exits is 31% higher than during the same period in 2025. New authority issuances have fallen 22% in recent weeks as federal and state enforcement measures and processes may be creating additional barriers to entry.

Small fleets continue facing pressure

Many of the bankruptcy filings involved small fleets with fewer than 10 trucks, highlighting how difficult the current freight environment remains for smaller operators.

Arkansas-based BNL Enterprises Inc. filed for Chapter 11 protection while operating only three power units and three drivers. The company reported traveling just 10,000 miles during 2025.

JN Griffin Trucking LLC, a logging transportation company in Arkansas, filed for Chapter 11 protection on May 22 while operating two trucks and employing two drivers.

North Carolina-based T & T Hauling and Transport LLC also sought Chapter 11 protection while continuing local dump truck operations hauling rock, sand, dirt and asphalt in the Raleigh-Durham region.

Additional Chapter 11 filings included Alabama logging and timber hauling company Turner Services LLC, Illinois-based Trans Express Lines Inc., Georgia carrier JXC Enterprises LLC and Indianapolis-based AM Logistics Inc., a third-party logistics provider affiliated with Team Worldwide.

AM Logistics reported operating four to six power units and approximately 350,000 miles of commercial operations during 2025 prior to filing for bankruptcy protection on May 27.

The growing number of bankruptcy filings comes as the trucking industry continues navigating a prolonged freight recession that has squeezed margins for many small and midsize carriers since 2023.

While freight volumes have shown some signs of stabilization in recent months, many operators continue facing pressure from elevated insurance costs, equipment expenses, driver wages and softer pricing conditions across the truckload market.

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